US dollar nears 10-week high on rate-hike bets
London
THE dollar steadied close to its highest level in ten weeks on Monday, with strong US wages data at the end of last week giving investors confidence that the Federal Reserve will hike interest rates in December.
Sterling was the biggest mover among developed-market currencies, recovering as much as 0.9 per cent on signs that a plot to topple Prime Minister Theresa May would not be successful, easing political uncertainty a touch.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Microsoft beats estimates as AI drives revenue
Crypto firm sues SEC to fend off oversight of Ethereum
Snap beats first-quarter expectations, shares jump 25%
Google parent announces first-ever dividend; beats on sales, profit; shares soar
Baltimore’s trapped ships start leaving as new channel opens
S&P slashes Boeing credit outlook as rating hovers above junk status